Legal & General Group Plc Sells 2,375 Shares of Udemy, Inc. (NASDAQ:UDMY)

Legal & General Group Plc cut its position in shares of Udemy, Inc. (NASDAQ:UDMY) by 2.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,536 shares of the company’s stock after selling 2,375 shares during the period. Legal & General Group Plc owned approximately 0.05% of Udemy worth $655,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Barclays PLC boosted its position in shares of Udemy by 360.6% during the 3rd quarter. Barclays PLC now owns 155,719 shares of the company’s stock valued at $1,158,000 after acquiring an additional 121,911 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Udemy during the fourth quarter valued at $31,000. JPMorgan Chase & Co. grew its stake in shares of Udemy by 26.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 198,387 shares of the company’s stock worth $1,476,000 after buying an additional 41,145 shares in the last quarter. Cornerstone Investment Partners LLC bought a new stake in shares of Udemy in the 4th quarter worth about $219,000. Finally, Geode Capital Management LLC raised its position in shares of Udemy by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 2,216,868 shares of the company’s stock valued at $16,497,000 after buying an additional 5,972 shares in the last quarter. Hedge funds and other institutional investors own 79.48% of the company’s stock.

Udemy Stock Down 0.1 %

Udemy stock opened at $6.95 on Tuesday. The firm has a market cap of $1.03 billion, a P/E ratio of -12.19 and a beta of 1.81. The business has a fifty day moving average of $7.87 and a two-hundred day moving average of $8.07. Udemy, Inc. has a twelve month low of $5.68 and a twelve month high of $11.60.

Udemy (NASDAQ:UDMY) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.10). The company had revenue of $199.94 million for the quarter, compared to the consensus estimate of $194.70 million. Udemy had a negative net margin of 10.84% and a negative return on equity of 27.93%. Equities analysts expect that Udemy, Inc. will post -0.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Eren Bali sold 10,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $8.02, for a total value of $80,200.00. Following the completion of the transaction, the chief technology officer now owns 2,146,050 shares in the company, valued at $17,211,321. This trade represents a 0.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Heather Hiles sold 14,840 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $9.81, for a total value of $145,580.40. Following the sale, the director now owns 42,667 shares in the company, valued at approximately $418,563.27. The trade was a 25.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,168 shares of company stock valued at $952,186. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on UDMY. JPMorgan Chase & Co. lowered their price objective on Udemy from $11.00 to $8.00 and set a “neutral” rating for the company in a research note on Thursday, April 24th. William Blair lowered shares of Udemy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, March 12th. Morgan Stanley reduced their target price on shares of Udemy from $9.00 to $7.00 and set an “underweight” rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of Udemy in a report on Wednesday, March 12th. Finally, Canaccord Genuity Group raised their price objective on shares of Udemy from $12.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Udemy has a consensus rating of “Hold” and an average target price of $10.29.

About Udemy

Udemy, Inc, a learning company, that operates a marketplace platform for learning skills in the United States and internationally. The company offers skill acquisition, development, and validation courses for organizations and individuals, through direct-to-consumer or Udemy Business offerings in various languages.